Best Military Bank VA-CashOUT

[Anonymous]

620ish CS, lots of CC debt BUT 100% VA/ARMY Disability, 100%CRSC, SSDI, and w some additional partial VA Caregiver money as a little extra on the side. So, there is plenty of money for bills now and plenty for a 15yr (or less) rate only thing KILLING me is X wife’s CC %'s + additional debt she left behind monthly. This causes the debt payoff to take as long as the current 30yr mortgage. BUT with a combined debt + mortgage (aka cash out refinance) I would be able to have all of it paid off quickly.

I want to gather as much information before I do anything. The only thing I have done so far w the VA is take out 1 home loan about 3 years ago.

USAA? Navy Federal? Marine? Fortera Credit Union? Altra Federal Credit Union? etc

[VALoanMaster]

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@Anonymous wrote:

620ish CS, lots of CC debt BUT 100% VA/ARMY Disability, 100%CRSC, SSDI, and w some additional partial VA Caregiver money as a little extra on the side. So, there is plenty of money for bills now and plenty for a 15yr (or less) rate only thing KILLING me is X wife’s CC %'s + additional debt she left behind monthly. This causes the debt payoff to take as long as the current 30yr mortgage. BUT with a combined debt + mortgage (aka cash out refinance) I would be able to have all of it paid off quickly.

I want to gather as much information before I do anything. The only thing I have done so far w the VA is take out 1 home loan about 3 years ago.

USAA? Navy Federal? Marine? Fortera Credit Union? Altra Federal Credit Union? etc

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Hi Shertz,

I don't think where you get your VA loan from is as important as who you get it from. Don't get me wrong, finding a lender that doesn't have any overlays will be important but your loan officer will make or break your transaction.

Even though VA allows you to do a 100% cash-out refinance a lot of lenders have an overlay that limits it to 90%.

When you talk about your ex-wife's CCs, is that debt she racked up & that you got stuck with through the divorce or does the divorce require her to pay it?

If the debt is in your name but the divorce awarded it to her, then we don't have to count it against your income for qualifying.

What kind of information are you looking for?

[Anonymous]

Unfortunately, wife’s Credit Cards (under my name/ssn) were given to her by me to use, and I am obligated to pay them (BUT I was taken advantage of I can do nothing now without a big VA investigation etc.). Our separation equaled nonexistent and straight divorce and straight to sign here with no issues (and **bleep** do I regret getting my own lawyer!)

I am looking to see what bank is the easiest to work with, offers the best rates, and if anyone had some prior experiences.

i am also looking 2 see what banks use what scores 

[VALoanMaster]

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@Anonymous wrote:

Unfortunately, wife’s Credit Cards (under my name/ssn) were given to her by me to use, and I am obligated to pay them (BUT I was taken advantage of I can do nothing now without a big VA investigation etc.). Our separation equaled nonexistent and straight divorce and straight to sign here with no issues (and **bleep** do I regret getting my own lawyer!)

I am looking to see what bank is the easiest to work with, offers the best rates, and if anyone had some prior experiences.

i am also looking 2 see what banks use what scores 

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I'll send you a PM.

Every lender uses the middle of your 3 credit scores.